In a recent transaction, Howell director Robin Robinson of Gray Television Inc . (NYSE:) made a significant purchase of shares of the company. On March 28, 2024, Robinson acquired 10,000 shares at a weighted average price between a low of $7.9633 and a high of $8.4479 per share, for a total investment of $80,934.
This purchase represents a noteworthy move by a member of Gray Television’s board of directors, indicating potential confidence in the company’s future performance. Details of the transaction were disclosed in a regulatory filing with the Securities and Exchange Commission.
Following this acquisition, Robinson’s total number of shares in Gray Television is 2,982,386, held indirectly through a spouse. The document also updated holdings under a 401(k) plan to reflect the current balance.
Investors often keep an eye on insider transactions like these, as they can provide insight into the health of the company and the feelings of its senior executives and directors. Gray Television, with its consolidated presence in the broadcast sector, continues to be an object of interest in the market.
Gray Television shares have been listed on the stock exchange and investors can follow its performance under the symbol NYSE:GTN. Recent insider activity may prompt investors to watch the company’s stock more closely in the coming days.
Insights on InvestingPro
In the context of Howell director Robin Robinson’s purchase of preferred shares, Gray Television Inc. (NYSE:GTN) presents some interesting data and expert analysis that could help investors evaluate the company’s current market position. According to InvestingPro, Gray Television is trading at a low price-to-book multiple of 0.31, which may suggest the stock is undervalued relative to its book value over the trailing twelve months ended Q4 2023.
The company has faced challenges, as evidenced by negative revenue growth of -10.75% over the same period. However, net profit is expected to grow this year, which could signal a turnaround for Gray Television. An InvestingPro Tip also notes that the company’s liquid assets exceed its short-term obligations, indicating a strong liquidity position that can reassure investors about the company’s ability to meet its short-term liabilities.
Investors considering Gray Television as a potential addition to their portfolio may find the following data points from InvestingPro particularly relevant:
- Market capitalization (adjusted): $597.14 million
- P/E Ratio (adjusted) for the trailing twelve months as of Q4 2023: -70.27
- Gross profit margin trailing twelve months as of Q4 2023: 27.4%
For those looking to delve deeper into Gray Television’s financials and future prospects, InvestingPro offers additional tips and insights. There are currently 7 more InvestingPro Tips available for GTN, which can be accessed at https://www.investing.com/pro/GTN. To improve your experience with InvestingPro, use the coupon code PRONEWS24 to get an additional 10% discount on the annual or biennial Pro and Pro+ subscription.
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